Almost no growth in business at Canton Fair
April 30, 2012 Category Foreign trade, Weekly
Growth in transactions at the Canton Fair has slowed. They totaled USD8.5 billion in the first phase of the fair, up just 1.1% over the previous session. The fair’s first phase, which ran from April 15 to 19, focused on consumer electronics, home appliances, lighting, motorbikes, cars and car parts, machinery, hardware, construction materials, sanitary products and chemicals. “We are facing declining exports due to weak demand from buyers from traditional markets,” said Liu Jianjun, Spokesman for the Canton Fair. At the ongoing second phase of the fair, the number of buyers from Europe and the United States has declined a lot, according to Liu. The EU remained China’s largest trading partner in the first quarter, though bilateral trade growth was just 2.6% year-on-year at USD126.87 billion. China’s trade with the U.S. increased 9.3% to USD106.77 billion. China’s exports rose 7.6% in the first quarter to USD430 billion.
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